When Godfrey died in 2016, his assets were valued as follows
Question # 00562096
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Updated on: 07/18/2017 02:32 AM Due on: 07/18/2017
Asset. Date of death valuation Valuation six months later
Stocks. $2,220,000 $2,180,000
Bonds. 4,600,000. 4,620,000
Home 800,000 780,000
Total $7,620,000 $7,580,000
The executor sold the stock two months after the decedent's death for $2,200,000. The bonds were sold seven months after the decedent's death for $4,630,000.
What valuation should be used for the gross estate?
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Solution: When Godfrey died in 2016, his assets were valued as follows